gabe
Senior Member
I have heard a lot too from friends who work in the industry. It's scary.
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- Thread starter Johnny Au
- Start date
I have heard a lot too from friends who work in the industry. It's scary.
Johnny Au
Senior Member
Major American pizza parlours are making record profits (at the expense of all independent restaurants, independent pizza parlours included) via delivery.
Towered
Superstar
Ironically, a dish eaten with your hands...
Admiral Beez
Superstar
I've just sent in a request for a post-pandemic May 9th haircut at my local Barbershop. Let's see if they'll book me in. I don't want to be last in the shaggy queue when the quarantine breaks.
MetroMan
Senior Member
May 9th? Good luck. This will not be over in a month.
Admiral Beez
Superstar
Yep... they just sent me a note that not taking any bookings until they know more. I’ll be joining my poodle in the shaggy queue.
I expect stores will remain closed throughout April and into May. I’m booked to fly to England in early August, so my hope is this is cleared and we’re flying again by July. I can get most of my money back but I haven’t been to the homeland in 15 years and am really looking forward to the trip. Sigh....
AlbertC
Superstar
BC Footwear Retailer ‘Ronsons’ Placed into Receivership Amid COVID-19 Pandemic
April 13, 2020
By Craig Patterson
Vancouver-based multi-brand footwear retailer Ronsons has been placed into receivership amid a lack of cash flow following the closure of its stores amid the COVID-19 pandemic. Other retailers in Canada are expected to follow as ‘non-essential’ stores remain closed for an indefinite period across the country.
“It is with a heavy heart that I have to tell you that due to the COVID-19 pandemic the company is now in receivership,” said Tony Aronson, CEO of Ronsons. He and his father founded the company 32 years ago.
“With the help of our incredible staff, loyal customers, and supplier partners - many of them friends, we grew the business to eighteen locations”.
All 18 of Ronsons’ stores are in British Columbia, including nine full-priced Ronsons locations and nine off-price Ronsons Rack stores. Sixteen of the stores are in the Vancouver/Lower Mainland and two are in other parts of the province. That includes a Ronsons store in Victoria and a Ronsons Rack store in Kelowna.
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More Canadian retailers are expected to file for creditor projection in the coming weeks as physical stores remain closed across the country. While many businesses may have online stores, web sales are said to be insufficient to keep them afloat. Many consumers in Canada are not buying clothing at the moment, with reasons including ‘stay indoors’ orders as well as job losses and wealth that has been lost due to a declining stock market and oil prices. We’ll continue to follow the Canadian retail industry as companies begin to assess operations.
www.retail-insider.com
April 13, 2020
By Craig Patterson
Vancouver-based multi-brand footwear retailer Ronsons has been placed into receivership amid a lack of cash flow following the closure of its stores amid the COVID-19 pandemic. Other retailers in Canada are expected to follow as ‘non-essential’ stores remain closed for an indefinite period across the country.
“It is with a heavy heart that I have to tell you that due to the COVID-19 pandemic the company is now in receivership,” said Tony Aronson, CEO of Ronsons. He and his father founded the company 32 years ago.
“With the help of our incredible staff, loyal customers, and supplier partners - many of them friends, we grew the business to eighteen locations”.
All 18 of Ronsons’ stores are in British Columbia, including nine full-priced Ronsons locations and nine off-price Ronsons Rack stores. Sixteen of the stores are in the Vancouver/Lower Mainland and two are in other parts of the province. That includes a Ronsons store in Victoria and a Ronsons Rack store in Kelowna.
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More Canadian retailers are expected to file for creditor projection in the coming weeks as physical stores remain closed across the country. While many businesses may have online stores, web sales are said to be insufficient to keep them afloat. Many consumers in Canada are not buying clothing at the moment, with reasons including ‘stay indoors’ orders as well as job losses and wealth that has been lost due to a declining stock market and oil prices. We’ll continue to follow the Canadian retail industry as companies begin to assess operations.
BC Footwear Retailer ‘Ronsons’ Placed into Receivership Amid COVID-19 Pandemic
The 32-year-old, 18-store, family-owned retailer says that the company filed due to the pandemic, and more retailers are expected to follow.
www.retail-insider.com
toforumer
Active Member
I got more info on Hudsons Bay. Overall sales decline is close to 80%. They're barely hanging on. Store closures are absolutely imminent and looking to be accelerated. I wouldn't be surprised to see Bay stores start closing down this fall.
TheKingEast
Senior Member
Sad, sad, sad.
W. K. Lis
Superstar
During the Spanish Flu of 1918, they discouraged the closing of stores. There was no internet in those days, and with the incubation rate only of a couple of days, open stores was the only way to get goods.
toforumer
Active Member
Times have changed! Bay was already planning on shutting down their stores down slowly over the next few years. But with the Covid-19 situation, it has changed their plans drastically. Out of the 34 stores in Ontario, I'm confident close to half of those locations will be shut down. They do have some pretty shitty locations which are no brainers.
AlbertC
Superstar
Some news from the Yanks:
J.C. Penney skips $12M interest payment, setting stage for possible bankruptcy
Dive Brief:
www.retaildive.com
J.C. Penney skips $12M interest payment, setting stage for possible bankruptcy
Dive Brief:
- J.C. Penney missed an interest payment on its senior notes that was due Wednesday, the retailer said in a securities filing.
- The company said it "elected" not to make the roughly $12 million payment, which puts Penney into a 30-day grace period. It did so, "in order to evaluate certain strategic alternatives, none of which have been implemented at this time," Penney said in the filing.
- Reuters reported earlier this week that Penney was considering a possible bankruptcy filing as it tries to manage its hefty debt load amid temporary store closures and the unprecedented COVID-19 pandemic and economic fallout.
J.C. Penney misses another debt payment as potential bankruptcy looms
The retailer missed a $17 million interest payment on its credit facility as Reuters reports Penney could close 200 stores in Chapter 11.
toforumer
Active Member
And it’s begun with the big chains...Neiman Marcus is going to be filing for Bankruptcy.
Link -- it's not just a rumour. https://www.reuters.com/article/us-...cy-as-soon-as-this-week-sources-idUSKBN2210CW
bAuHaUs
Active Member
So now we have AMC, JC Penny and Neiman Marcus being added to what appears to be an endless list of retailers...